21,800 Shares in CAVA Group, Inc. $CAVA Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 21,800 shares of the company’s stock, valued at approximately $1,711,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Modern Wealth Management LLC increased its holdings in CAVA Group by 4.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after purchasing an additional 158 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of CAVA Group by 2.4% in the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock valued at $401,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP boosted its position in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after buying an additional 237 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of CAVA Group by 18.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock valued at $92,000 after buying an additional 241 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in CAVA Group by 53.5% during the fourth quarter. Advisors Asset Management Inc. now owns 694 shares of the company’s stock worth $41,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CAVA. UBS Group raised CAVA Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $90.00 in a research report on Wednesday, June 10th. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. Citigroup reiterated a “buy” rating on shares of CAVA Group in a research note on Tuesday, July 28th. Argus set a $92.00 target price on shares of CAVA Group in a report on Friday, May 22nd. Finally, Morgan Stanley raised shares of CAVA Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Trading Up 3.3%

CAVA stock opened at $55.76 on Friday. The stock has a market cap of $6.51 billion, a P/E ratio of 101.38, a P/E/G ratio of 4.19 and a beta of 1.74. The stock’s fifty day simple moving average is $65.92 and its two-hundred day simple moving average is $76.83. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business’s revenue was up 31.3% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. As a group, analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Thompson acquired 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $66.52 per share, with a total value of $432,380.00. Following the acquisition, the insider directly owned 19,371 shares of the company’s stock, valued at $1,288,558.92. The trade was a 50.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 67,512 shares of company stock valued at $6,050,417 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

CAVA Group Company Profile

CAVA Group, Inc is a U.S.-based restaurant company that operates the CAVA fast-casual Mediterranean restaurant brand. Its restaurants offer customizable meals, including grain bowls, salads, pitas, dips, spreads and sides made with Mediterranean-inspired ingredients and flavors. Customers can order meals in restaurants, through digital channels and for catering.

The company’s menu is centered on a build-your-own format, allowing guests to select proteins, grains, greens, toppings, sauces and dips.